Dubai World Creditors OK $25B Restructuring

Law360, New York (October 27, 2010, 1:07 PM EDT) -- Dubai World has reportedly gained full support from its creditors for a $24.9 billion restructuring plan, bringing the state-owned conglomerate's struggle with a massive debt load one step closer to completion.

The Financial Times reported Tuesday that Dubai World has reached agreements with 100 percent of its lenders, citing unnamed sources familiar with the matter.

Dubai World said last month that it still needed to finalize an agreement with 1 percent of its creditors. That deal now appears to have been sealed, with U.S. distressed-debt fund...